Mortgage News Jan 2008

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30-year mortgage rates slide to 6.07 percent
WASHINGTON -- Rates on 30-year mortgages fell last week to the lowest level in a month, as investors found new reasons to worry about a possible recession. (Fri, 04 Jan 2008 11:30:57 GMT)

30-year mortgage rates fall to 6.07%
WASHINGTON — Rates on 30-year mortgages fell to the lowest level in a month as investors found new reasons to worry about a possible recession. (Fri, 04 Jan 2008 11:50:14 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Fri, 04 Jan 2008 11:52:06 GMT)

Mortgage securities sales under scrutiny
Financial Industry Regulatory Authority wants information from Wall Street firms over sales of mortgage products to senior citizens. (Fri, 04 Jan 2008 12:40:44 GMT)

Australia Bond Risk Rises to Record as Banks Lift Mortgage Rate
Jan. 4 (Bloomberg) -- The risk of Australian companies defaulting rose to a record as two of the nation's biggest banks increased mortgage rates after the collapse of the U.S. subprime market drove up funding costs. (Fri, 04 Jan 2008 12:44:02 GMT)

Australia Bond Risk Rises to Record as Banks Lift Mortgage Rate
Jan. 4 (Bloomberg) -- The risk of Australian companies defaulting rose to a record as two of the nation's biggest banks increased mortgage rates after the collapse of the U.S. subprime market drove up funding costs. (Fri, 04 Jan 2008 12:50:30 GMT)

First Midwest takes reverse stance on mortgage loans
First Midwest Bancorp Inc., one of the Chicago area's biggest locally headquartered banks, has restructured its mortgage practice to reflect a bigger emphasis on reverse mortgages instead of mortgage originations. (Fri, 04 Jan 2008 13:53:31 GMT)

Mortgage Woes Could Force Nation’s Lenders to Adjust
Without referring to mortgage rates, “fix” and “adjust” could be key words for the lending industry in 2008. Four Regional Banks Offering Relief Program Four New England banks are offering a new initiative called the Mortgage Relief Fund, a $100 million refinancing program to help address the subprime mortgage crisis in Connecticut and other New England states. (Fri, 04 Jan 2008 14:05:37 GMT)

Refinance Now to Avoid your ARM rate Increase
(ARA)- The effects of refinancing your mortgage can be dramatic, since it's a tool you can use to improve your financial situation. To take best advantage of it, look at where you are and assess your needs. Then explore the market. (Fri, 04 Jan 2008 14:10:30 GMT)

Refinance Your Adjustable Rates Today
(ARA) - As the old saying goes "a man's home is his castle." The benefits of owning a home are many, including financial security. While a home mortgage is good for your financial stability, refinancing for a better mortgage than you originally qualified for can benefit your finances even more. (Fri, 04 Jan 2008 14:51:46 GMT)

Rate Freeze To Cool Mortgage Meltdown
In the wake of 2007's rising foreclosure rates, the U.S. government negotiated with a series of mortgage service companies, Citigroup, Countrywide Financial, Washington Mutual and Wells Fargo (or the Hope Alliance) to create a "Mortgage Rate Freeze" program to alleviate the financial strain of resetting interest rates for subprime borrowers in 2008. (For background reading, see the Subprime ... (Fri, 04 Jan 2008 17:18:05 GMT)

New system keeps eye on mortgage lenders
Massachusetts and six other states have a new tool to regulate mortgage companies and root out those guilty of fraud or predatory lending. (Fri, 04 Jan 2008 17:56:44 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Fri, 04 Jan 2008 18:06:35 GMT)

Mortgage Applications Slipping
A nearly 12 percent drop in an index measuring applications for home loans last week seems to bode poorly for a recovery in the housing market. (Fri, 04 Jan 2008 19:23:21 GMT)

More job cuts expected in mortgage banking
The pace of job losses in mortgage lending slowed in December, as some companies shifted workers to other areas of financial services, but the losses may pick up again in the new year as the U.S. housing market continues to weaken and credit remains tight. (Fri, 04 Jan 2008 20:16:30 GMT)

State agency revokes local mortgage license
SPRINGFIELD – The state has revoked the residential mortgage license of Ameridream Home Lending Corp. in Champaign, according to a disciplinary report released this week. The Illinois Department of Financial and Professional Regulation report said the license was pulled because the company did not respond to requests for information, documents and/or corrective actions. (Fri, 04 Jan 2008 20:18:18 GMT)

Federal Home Loan Bank of Indianapolis Announces Retirement of Brian K. Fike
INDIANAPOLIS, Jan. 4, 2008 -- On January 4, 2008, the Federal Home Loan Bank of Indianapolis announced the retirement of Brian K. Fike, Senior Vice President - Member Services, effective February 29, 2008. (Fri, 04 Jan 2008 20:39:03 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Fri, 04 Jan 2008 21:28:35 GMT)

R.I., Mass. To Track Mortgage Sellers
Rhode Island and Massachusetts are taking part in a new system to keep track of mortgage sellers. It's designed to prevent unscrupulous brokers from moving from company to company or from state to state. (Fri, 04 Jan 2008 23:44:26 GMT)

Mortgage approvals hit lowest level for nearly three years
Yet another concrete sign of UK housing market weakness came yesterday when the Bank of England reported that fresh mortgage approvals for house purchase had slumped to the lowest for nearly three years, while a separate survey signalled subdued service sector growth. (Sat, 05 Jan 2008 00:04:06 GMT)

Mortgage approvals fall to lowest in 3 years
British mortgage approvals fell to their lowest level in almost three years in November, as the slowdown in the UK housing market continued apace. (Sat, 05 Jan 2008 00:41:39 GMT)

First Florida Financial Group, LLC Launches DeadDeals.net Buys Un-Closeable Mortgage Deals/Leads
DeadDeals.net purchases qualified un-closeable mortgage and foreclosure leads from mortgage brokers and loan officers throughout the state of Florida. They pay between $50 and possibly up to $500 for each lead, in an effort to feed their CashToolBox.com Program. Their CashToolBox Program utilizes their own "Pre-Closing-Cash" to fix problems associated with a consumer mortgage loan application ... (Sat, 05 Jan 2008 01:45:51 GMT)

Refinance Your Adjustable Rates Today
(ARA) - As the old saying goes "a man's home is his castle." The benefits of owning a home are many, including financial security. While a home mortgage is good for your financial stability, refinancing for a better mortgage than you originally qualified for can benefit your finances even more. (Sat, 05 Jan 2008 03:08:01 GMT)

Mortgage lenders ordered to pay $99 million in punitive damages
A Jackson County jury Friday ordered three mortgage lenders to pay $99 million in punitive damages to Missouri residents who claimed they were charged illegal fees for second mortgages. (Sat, 05 Jan 2008 04:28:57 GMT)

Mortgage approvals fall
LONDON: British mortgage approvals for house purchase fell for a fifth straight month in November to hit their lowest level in almost three years, providing further evidence of a slowdown in the housing market. (Sat, 05 Jan 2008 05:55:09 GMT)

Use Auto Refinancing to Ease the Family Budget
(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. It's reported that gas prices could exceed $4 per gallon this summer. (Sat, 05 Jan 2008 09:17:11 GMT)

Why Now is a Good Time to Refinance Your ARM Loan
(ARA) - With gas prices in a state of constant flux, and energy costs going up and down too, the last thing you want to happen is for your mortgage to start fluctuating too. But if you have an adjustable rate mortgage (ARM), it will soon happen. (Sat, 05 Jan 2008 15:06:35 GMT)

Raiding 401(k) not a good way to pay mortgage
Q I understand that there is a new law that will let people pay their mortgage by using their 401(k) savings. Is that a good idea? (Sat, 05 Jan 2008 15:53:41 GMT)

States Unveil Mortgage Licensing System
By Pauline Vu - States have a new tool to regulate mortgage companies and access their track records, including information on companies punished in other states for fraud or predatory lending. (Sat, 05 Jan 2008 16:13:44 GMT)

Ex-councilwoman sentenced to prison in mortgage fraud case
KANSAS CITY, Mo. (AP) - A former Kansas City councilwoman was sentenced Friday to two months in prison and four months of home detention for mortgage fraud. (Sat, 05 Jan 2008 16:59:05 GMT)

NEW: O'Fallon homeowners soon may apply for loan
Applications for no-interest loans of up to $5,000 are scheduled to be available Jan. 14 to May 30 to a limited number of O'Fallon homeowners who qualify for O'Fallon's Home Improvement Loan Program. (Sat, 05 Jan 2008 19:36:48 GMT)

US Reserve proposes new mortgage rules
Lenders will have to confirm that a borrower can afford a mortgage before making a loan under protections proposed by the US Federal Reserve, following defaults and losses on US subprime mortgages this year. (Sat, 05 Jan 2008 22:03:47 GMT)

SHARC to take bite out mortgage foreclosures
He's been working for years to pay off his mortgage. 46-year-old Jim Jackson of Minneapolis wanted to eventually leave his home to (Sat, 05 Jan 2008 23:04:37 GMT)

Banks cut back on discounted mortgage rates
06 January 2008 By David Clerkin, Markets Correspondent Mortgage borrowers are set to be hit with a fresh squeeze, as the credit crunch forces banks to cut back on discounted rates for many customers. (Sun, 06 Jan 2008 00:41:13 GMT)

What it means when your home loan is sold
EDMOND — For the past several months we’ve watched the news as the home lending market has not so quietly imploded. Many of us are now left wondering what will happen to our mortgages should the specific lender holding our note go “belly up.” (Sun, 06 Jan 2008 03:43:24 GMT)

Hospice house receives $5,000 for mortgage
Rose and Quesenberry Funeral Chapel of Beckley got in the Christmas spirit when it donated $5,000 to go to the mortgage on the Lucy Bowers Hospice House. (Sun, 06 Jan 2008 04:02:00 GMT)

Dont put all the blame for subprime mortgage crisis on the borrowers
A kind of cynicism pervades discussion of the subprime mortgage problem. It is getting in the way of thoughtful discussion of what got us into this mess in the first place. (Sun, 06 Jan 2008 04:25:46 GMT)

Mortgage fees must meet IRS rules to be deductible
Q. We recently paid our mortgage company a fee to modify our mortgage, resulting in a lower interest rate. (Sun, 06 Jan 2008 04:27:26 GMT)

Dont put all the blame for subprime mortgage crisis on the borrowers
A kind of cynicism pervades discussion of the subprime mortgage problem. It is getting in the way of thoughtful discussion of what got us into this mess in the first place. (Sun, 06 Jan 2008 04:29:07 GMT)

Pain of mortgage slump spreads
DENVER - Dozens of states, counties and cities across the nation will enter the new year facing deep and unexpected budget holes as the widening mortgage crisis cuts sharply into tax revenue. (Sun, 06 Jan 2008 06:14:52 GMT)

Declining home prices stymie refinancing
The decline in home prices has had a profound impact on buyers and sellers in today's real estate market, but the impact doesn't stop there. (Sun, 06 Jan 2008 06:19:27 GMT)

ASK YOUR BANKER FOR A MORTGAGE ADJUSTMENT
Dear John: Is this a good time to ask my credit union for a rate modification on my adjustable rate mortgage? For five years now my rate has been as low as 5.25 percent, after an initial 5.75 percent. It is now 5.9 percent. I actually want to know... (Sun, 06 Jan 2008 07:31:17 GMT)

Lender lobbying blitz abets mortgage mess
During the housing boom, the subprime industry succeeded at more than just writing mortgages. It also shot down efforts by some states to curtail risky lending to borrowers with spotty credit. (Sun, 06 Jan 2008 07:38:28 GMT)

6 plead not guilty to mortgage fraud
Six people indicted in what prosecutors say is an $18 million mortgage fraud scheme have pleaded not guilty to federal charges. (Sun, 06 Jan 2008 07:40:59 GMT)

Move to mortgage banking paying off for Flaherty
Tom and Molly Flaherty, owners of Flaherty Funding, transitioned from mortgage brokering to banking in 2000 after seeing a dim future for brokers. They didn't realize how true that prediction would be. (Sun, 06 Jan 2008 08:06:51 GMT)

Why Now is a Good Time to Refinance Your ARM Loan
(ARA) - With gas prices in a state of constant flux, and energy costs going up and down too, the last thing you want to happen is for your mortgage to start fluctuating too. But if you have an adjustable rate mortgage (ARM), it will soon happen. (Sun, 06 Jan 2008 10:09:21 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Sun, 06 Jan 2008 10:09:32 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Sun, 06 Jan 2008 10:23:32 GMT)

Why Mortgage Life Insurance is Not a Good Idea
(ARA) - If you've recently taken out a mortgage, brace yourself for the onslaught. Before you even finish unpacking, your mailbox will likely be filled with offers for all kinds of services. (Sun, 06 Jan 2008 10:38:32 GMT)

Don't tap your 401(k) to cover the mortgage
Q: I understand that there is a new law that will let people pay their mortgage by using their 401(k) savings. Is that a good idea? (Sun, 06 Jan 2008 10:39:48 GMT)

Refinance Your Auto Loan and Ease a Tight Budget
(ARA) - Living from paycheck to paycheck can be very stressful when unexpected emergency situations happen. You have to squeeze some extra money out of your budget, but where is it going to come from? (Sun, 06 Jan 2008 11:07:41 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Sun, 06 Jan 2008 11:53:31 GMT)

Congress has done little to ease mortgage mess
With home prices falling and foreclosures rising last year, Congress held dozens of hearings into the nation's mortgage crisis. But it failed to pass any significant legislation to tighten lending regulations, crack down on predatory mortgage practices or provide help to families facing foreclosure. Although the House approved several mortgage-related bills, the legislative process stalled in ... (Sun, 06 Jan 2008 13:14:59 GMT)

Advocacy groups push Congress for mortgage aid
WASHINGTON - With home prices falling and foreclosures rising last year, Congress held dozens of hearings into the mortgage crisis. But it failed to pass any significant legislation to tighten lending regulations, crack down on predatory mortgage practices, or provide help to families facing foreclosure. (Sun, 06 Jan 2008 13:33:32 GMT)

Coast spared mortgage crisis
PASCAGOULA -- While the sub-prime mortgage crisis threatens to undermine housing markets across the United States, a leading real estate professional in Jackson County says effects from the crisis are muted along the Gulf Coast. (Sun, 06 Jan 2008 14:21:58 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Sun, 06 Jan 2008 16:22:51 GMT)

Congress faces pressure to pass mortgage reform
With home prices falling and foreclosures rising last year, Congress convened dozens of hearings on the nation's mortgage crisis. But it failed to pass any significant legislation to tighten lending regulations, crack down on predatory mortgage practices or provide help to families facing foreclosure. (Sun, 06 Jan 2008 16:52:18 GMT)

Ex-councilwoman sentenced to prison in mortgage fraud case
KANSAS CITY, Mo. (AP) - A former Kansas City councilwoman was sentenced Friday to two months in prison and four months of home detention for mortgage fraud. (Sun, 06 Jan 2008 17:28:58 GMT)

Derivatives speculators in subprime mortgage market learn that you can't hide from risk
WHEN VACAVILLE homeowner Christopher Aultman stopped writing mortgage checks, Charles Prince of Citigroup Inc. (Sun, 06 Jan 2008 17:43:26 GMT)

Slideshow: Rodeo Competition Is Farm Show Favorite
Doing your homework before refinancing pays. Check out this site where you can get articles and check mortgage calculators to help you find the right loan and then complete our simple, secure online request and compare up to 4 offers. (Sun, 06 Jan 2008 20:48:26 GMT)

Why Now is a Good Time to Refinance Your ARM Loan
(ARA) - With gas prices in a state of constant flux, and energy costs going up and down too, the last thing you want to happen is for your mortgage to start fluctuating too. But if you have an adjustable rate mortgage (ARM), it will soon happen. (Sun, 06 Jan 2008 23:38:02 GMT)

Cost of home loan highest in seven years
The cost of the typical home loan has soared to a seven-year high with families facing mortgage bills more than 20 per cent higher than two years ago as the effects of the credit crunch take their toll. (Mon, 07 Jan 2008 00:53:31 GMT)

Free Foreclosure Solutions Seminar
Local residents are invited to take part in a free workshop Monday on foreclosure solutions. Cabrillo Economic Developments Corporation is putting on the workshop, which will address rising mortgage payments, and bad refinance loan deals. (Mon, 07 Jan 2008 01:42:32 GMT)

Most area residents avoided mortgage crisis
The mortgage-lending crisis and rising home-foreclosure rates that have devastated many parts of the United States have not had as drastic an impact on Louisville. (Mon, 07 Jan 2008 05:23:54 GMT)

Debt and mortgage woes in papers
The Daily Telegraph 's front page headline is "mortgage misery as rates hit seven-year peak". (Mon, 07 Jan 2008 06:04:00 GMT)

Mortgage help not easy to get
Some Metro Detroit homeowners struggling with rising mortgage payments say promises of help from lenders are turning up empty. (Mon, 07 Jan 2008 06:04:58 GMT)

Commercial Finance Advisors Closes $1.7 Million NNN Refinance
Commercial Finance Advisors of Birmingham, Michigan closes 3 separate loans for one borrower totaling $1,700,000 in commercial mortgage debt. (Mon, 07 Jan 2008 07:01:00 GMT)

With Millions Of Cheated US Homeowners, Americas Watchdog Demands Banks and Mortgage Bankers Dislose The Yield Spread ...
Americas Watchdog and its National Mortgage Complaint Center are demanding immediate federal reforms related to a mortgage kick back known as a "yield spread premium" in order to protect all US homeowners. (Mon, 07 Jan 2008 07:01:00 GMT)

Commercial Finance Advisors Closes $1.7 Million NNN Refinance
Commercial Finance Advisors of Birmingham, Michigan closes 3 separate loans for one borrower totaling $1,700,000 in commercial mortgage debt. (PRWeb Jan 7, 2008) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/RW1wdC1TaW5nLVRoaXItU3VtbS1UaGlyLVplcm8= (Mon, 07 Jan 2008 08:29:17 GMT)

With Millions Of Cheated US Homeowners, Americas Watchdog Demands Banks and Mortgage Bankers Dislose The Yield Spread ...
Americas Watchdog and its National Mortgage Complaint Center are demanding immediate federal reforms related to a mortgage kick back known as a "yield spread premium" in order to protect all US homeowners. Americas Watchdog indicates that if US homeowners finally understand how much they were overcharged by a bank or a mortgage banker, there would be a national homeowners revolt. Americas ... (Mon, 07 Jan 2008 08:34:38 GMT)

6News video: Kansas weathering mortgage crisis
In 2007. a storm of foreclosures swept the nation. But Kansas - and Lawrence in particular - weathered the mortgage crisis better than most. (Mon, 07 Jan 2008 09:03:26 GMT)

Use Auto Refinancing to Ease the Family Budget
(ARA) - With gas prices at an all-time high and no relief in site, families are finding it necessary to cut back their spending on other items in order to fill up the car's tank. It's reported that gas prices could exceed $4 per gallon this summer. (Mon, 07 Jan 2008 09:16:26 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Mon, 07 Jan 2008 10:22:42 GMT)

Mortgage misery as home loan costs hit seven-year high
Families are facing mortgage bills more than 20 per cent higher than two years ago as the cost of a typical home loan has hit a seven-year high, figures show today. (Mon, 07 Jan 2008 10:41:02 GMT)

Mortgage misery as home loan costs hit seven-year high
Families are facing mortgage bills more than 20 per cent higher than two years ago as the cost of a typical home loan has hit a seven-year high, figures show today. (Mon, 07 Jan 2008 10:41:12 GMT)

Save by waiting out mortgage penalty
Timing can be everything when it comes to prepaying a mortgage, says Dr. Don Taylor. (Mon, 07 Jan 2008 11:00:00 GMT)

Brian Fike retires from Federal Home Loan Bank
Federal Home Loan Bank of Indianapolis has announced the retirement of Brian Fike, senior vice president of member services, effective February 29, 2008. (Mon, 07 Jan 2008 11:05:26 GMT)

(AFX UK Focus) 2008-01-07 10:42 GMT: UK banks to take lead in pre-empting mortgage defaults
LONDON (Thomson Financial) - Lenders in the UK will take a greater role in preventing mortgage defaults by contacting customers who show signs of falling into arrears, under new guidelines to be introduced in March. (Mon, 07 Jan 2008 11:07:00 GMT)

Bey never repaid city loan for business
E.M. Health Services, a home health care company founded by a high-ranking member of Your Black Muslim Bakery, opened for business in July 1996, flush with a $1. (Mon, 07 Jan 2008 11:09:04 GMT)

Mortgage Job Analysis by State and Company
Fueled by massive layoffs at Countrywide Financial Corp., American Home Mortgage Investment Corp. and First Magnus, states including Arizona, California and Florida saw significant losses in the mortgage sector last year, according to an analysis of layoffs, hirings and company closings conducted by http://www.MortgageDaily.com -- a dominant source of online news for the mortgage industry. (Mon, 07 Jan 2008 12:00:00 GMT)

FSA bans mortgage broker for submitting falsified mortgage applications
The FSA has banned Eric John Stevens of Select Mortgage Services for submitting falsified mortgage applications to mortgage lenders. The FSA's investigation found that Stevens, a mortgage and insurance broker based in Bournemouth, was knowingly invol... (Mon, 07 Jan 2008 12:00:51 GMT)

Mortgage Job Analysis by State and Company
Fueled by massive layoffs at Countrywide Financial Corp., American Home Mortgage Investment Corp. and First Magnus, states including Arizona, California and Florida saw significant losses in the mortgage sector last year, according to an analysis of layoffs, hirings and company closings conducted by http://www.MortgageDaily.com -- a dominant source of online news for the mortgage industry. But ... (Mon, 07 Jan 2008 12:18:34 GMT)

Bad Credit and Home Refinance
(ARA) - Mortgage rates are at historic lows, and it seems like everyone's jumping on the refinance bandwagon these days. But is it really a good idea for people with bad credit? (Mon, 07 Jan 2008 12:51:35 GMT)

Expert: Don Taylor, Ph.D., CFA, CFP
Dear Dr. Don, How do I calculate the prepayment penalty for a mortgage loan? I have nine months left on my prepayment period. -- Tanya Toll Dear Tanya, Not all mortgage prepayment penalties are the same, so you'll have to look to your loan documents or ask your lender for the terms. (Mon, 07 Jan 2008 12:51:47 GMT)

Assured Mortgage Selects Sollen Technologies' Loan Origination Pricing and Pipeline Management Tool
DALLAS----Sollen Technologies, an Internet-based application services provider of product, pricing and best execution capabilities for the mortgage industry, announced Brookfield, Wis.-based Assured Mortgage has chosen Sollen's loan pricing and pipeline management tool, Lender Online. (Mon, 07 Jan 2008 13:01:00 GMT)

How to Determine if it's Time to Refinance
(ARA) - Who wouldn't enjoy a break on their monthly mortgage payment? On the other hand, how can you be sure the timing is right to refinance? Are the rates and the current mortgage market the best indicators? (Mon, 07 Jan 2008 13:06:48 GMT)

Global economic growth 'robust,' inflation risks remain: Trichet
Global economic growth is "robust" but inflation risks remain as markets absorb the impact of the US subprime home loan crisis and higher food prices, European Central Bank chief Jean-Claude Trichet said Monday. (Mon, 07 Jan 2008 14:48:09 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Mon, 07 Jan 2008 14:53:21 GMT)

Why Now is a Good Time to Refinance Your ARM Loan
(ARA) - With gas prices in a state of constant flux, and energy costs going up and down too, the last thing you want to happen is for your mortgage to start fluctuating too. But if you have an adjustable rate mortgage (ARM), it will soon happen. (Mon, 07 Jan 2008 14:53:31 GMT)

NEW: O'Fallon homeowners soon may apply for loan
Applications for no-interest loans of up to $5,000 are scheduled to be available Jan. 14 to May 30 to a limited number of O'Fallon homeowners who qualify for O'Fallon's Home Improvement Loan Program. (Mon, 07 Jan 2008 15:34:47 GMT)

NEW: O'Fallon homeowners soon may apply for loan
Applications for no-interest loans of up to $5,000 are scheduled to be available Jan. 14 to May 30 to a limited number of O'Fallon homeowners who qualify for O'Fallon's Home Improvement Loan Program. (Mon, 07 Jan 2008 15:35:47 GMT)

NEW: O'Fallon homeowners soon may apply for loan
Applications for no-interest loans of up to $5,000 are scheduled to be available Jan. 14 to May 30 to a limited number of O'Fallon homeowners who qualify for O'Fallon's Home Improvement Loan Program. (Mon, 07 Jan 2008 15:36:02 GMT)

Global economic growth 'robust', inflation risks remain, says ECB chief
Global economic growth is "robust" but inflation risks remain as markets absorb the impact of the US subprime home loan crisis and higher food prices, European Central Bank chief Jean-Claude Trichet said Monday. (Mon, 07 Jan 2008 16:18:23 GMT)

Bills Piling Up? Refinancing Your Car Puts Extra Cash In Your Pocket
(ARA) - Sometimes life throws you a curve ball. The water heater springs a leak, your son breaks a tooth or you need a plane ticket to visit a sick relative. These unplanned expenses add up and if you don't have savings to cover them, where will the extra payments come from? (Mon, 07 Jan 2008 16:41:16 GMT)

Bush administration working to combat mortgage crisis, Paulson says
The U.S. Treasury secretary said that the wave of subprime mortgages that are scheduled to reset to sharply higher rates over the next two years raised the possibility of a market failure and was the reason the administration brokered a deal with the mortgage industry to freeze certain subprime mortgage rates for five years (Mon, 07 Jan 2008 16:50:35 GMT)

45,000 homeowners seek foreclosure aid, Paulson says
About 45,000 out of 1.8 million at-risk subprime borrowers have asked for help to refinance their mortgage under an industry-wide plan to prevent foreclosures, Treasury Secretary Henry Paulson said Monday. (Mon, 07 Jan 2008 16:51:30 GMT)

Mortgage Sector Cut 86,000 Jobs in 2007
More than 86,000 mortgage jobs were cut in 2007 because of the weakening real estate market, according to a new report released Monday by MortgageDaily.com. (Mon, 07 Jan 2008 17:40:22 GMT)

Paulson: No simple solution to housing, mortgage crisis
Paulson says there is no simple solution to housing and mortgage crisis (Mon, 07 Jan 2008 18:06:17 GMT)

More than 86,000 mortgage jobs eliminated in 2007
The weakening real estate market took its toll on the mortgage industry last year. (Mon, 07 Jan 2008 19:05:29 GMT)

More than 86,000 mortgage jobs eliminated in 2007
DALLAS (AP) - The weakening real estate market took its toll on the mortgage industry last year. A new report released by MortgageDaily.com says more than 86,000 jobs were cut last year, with Countrywide Financial leading the way. (Mon, 07 Jan 2008 19:11:33 GMT)

Mortgage job losses topped 86,000 in 2007: study
Countrywide Financial Corp , New Century Financial Corp and other mortgage lenders cut 86,071 jobs last year as the U.S. housing market deteriorated, data released Monday show. (Mon, 07 Jan 2008 19:33:58 GMT)

Nearly 90,000 mortgage jobs eliminated
Countrywide shed most jobs in mortgage disaster;California hit hardest; more cuts expected. (Mon, 07 Jan 2008 19:40:44 GMT)

Mortgage job losses topped 86,000 in 2007: study
By Jonathan Stempel NEW YORK (Reuters) - Countrywide Financial Corp (CFC.N), New Century Financial Corp (NEWCQ.PK) and other mortgage lenders cut 86,071 jobs last year as the U.S. (Mon, 07 Jan 2008 20:12:46 GMT)

US mortgage job losses 'topped 86,000 in 2007'
Countrywide Financial Corp, New Century Financial Corp and other mortgage lenders cut 86,071 jobs last year as the US housing market deteriorated, new data shows. (Mon, 07 Jan 2008 21:11:41 GMT)

South Carolina Electric & Gas Company Announces Debt Refinancing
COLUMBIA, S.C.----South Carolina Electric & Gas Company announced today that it sold, in a negotiated offering, $250 million principal amount of its First Mortgage Bonds, 6.05 percent series due January 15, 2038. (Mon, 07 Jan 2008 21:51:00 GMT)

South Carolina Electric & Gas Company Announces Debt Refinancing
South Carolina Electric & Gas Company (SCE&G) (NYSE: SCG) announced today that it sold, in a negotiated offering, $250 million principal amount of its First Mortgage Bonds, 6.05 percent series due January 15, 2038. The 30-year bonds were priced to SCE&G at 99.028 percent, and are initially being offered to the public at 99.903 percent to yield 6.057 percent to maturity. BNY Capital Markets, ... (Mon, 07 Jan 2008 22:17:21 GMT)

Mortgage company refuses to bend in case of Calhoun Co. homeowner
Disability leads to a desperate problem for a Calhoun County couple. A foreclosure could soon force the James family from their home. But they say their mortgage lender isn't being fair. (Mon, 07 Jan 2008 22:22:17 GMT)

Refinance Your Adjustable Rates Today
(ARA) - As the old saying goes "a man's home is his castle." The benefits of owning a home are many, including financial security. While a home mortgage is good for your financial stability, refinancing for a better mortgage than you originally qualified for can benefit your finances even more. (Mon, 07 Jan 2008 23:07:15 GMT)

Mortgage lenders fail to pass on rate cut
Several mortgage lenders have failed to pass on last month's interest rate cut to borrowers as many struggle to meet soaring repayments. (Tue, 08 Jan 2008 01:37:09 GMT)

Thornburg Mortgage names chief information officer
Thornburg Mortgage has appointed Caren Shiozaki as chief information officer and executive vice president. (Tue, 08 Jan 2008 02:21:31 GMT)

Deal reached with mortgage industry for five-year rate freeze
WASHINGTON (AP) - Hundreds of thousands of strapped homeowners could get some relief from a plan negotiated by the Bush administration to freeze interest rates on subprime mortgages that are scheduled to rise in the coming months. (Tue, 08 Jan 2008 02:40:47 GMT)

When's the time to refinance? Play is safe, experts say
USA TODAY last week invited readers who were thinking of buying, selling, or refinancing a home to send in their questions. Here are the questions received, answered by real estate experts. (Tue, 08 Jan 2008 03:00:33 GMT)

Swan says ANZ rates rise unjustified
Federal Treasurer Wayne Swan has stepped up the pressure on the ANZ bank, describing its latest rise in home loan interest rates as excessive. (Tue, 08 Jan 2008 04:46:00 GMT)

Federal Home Loan Bank of Boston Implements Leading Collateral Management Solution from Rockall Technologies
BOSTON----Rockall Technologies today announced that the Federal Home Loan Bank of Boston has implemented their liquid and loan book collateral tracking system for its member portfolios. (Tue, 08 Jan 2008 07:00:00 GMT)

Mortgage Planner Earns CMPS Designation to Offer Clients Increased Services: Ray Avanzino Now Offers a Range of Wealth ...
Ray Avanzino now offers a range of wealth management services. (Tue, 08 Jan 2008 07:01:00 GMT)

Fort Lauderdale's Levitt and Sons seeks $3.5 million loan
Fort Lauderdale's Levitt and Sons seeks $3.5 million loan Home builder Levitt and Sons is seeking a bankruptcy judge's approval to borrow up to $3.5 million to finish building homes in South Carolina, Georgia and Florida. (Tue, 08 Jan 2008 08:03:20 GMT)

Wachovia cuts 120 mortgage center jobs
Wachovia Corp. displaced about 120 workers in a mortgage call center in Northern California last month, a spokesman confirmed Monday.About 55 of those employees, however, landed other jobs with the Charlotte bank. Spokesman Don Vecchiarello attributed the cuts to industry economic conditions. Wachovia gained new California operations after its 2006 acquisition of Golden West Financial Corp. As ... (Tue, 08 Jan 2008 08:08:51 GMT)

Mortgage Planner Earns CMPS Designation to Offer Clients Increased Services: Ray Avanzino Now Offers a Range of Wealth ...
Ray Avanzino now offers a range of wealth management services. (PRWeb Jan 8, 2008) Post Comment:Trackback URL: http://www.prweb.com/pingpr.php/UHJvZi1GYWx1LUluc2UtUGlnZy1Mb3ZlLVplcm8= (Tue, 08 Jan 2008 08:08:55 GMT)

Don't Refinance Your Home to Pay Off Credit Card Debt - There's a Better Way
(ARA) - Ever received one of those offers in the mail that seems like the solution to all your problems? It may have said, "Your home is an untapped resource. Refinance your loan with us and you'll get quick cash to buy a car, fund college or pay off your credit card debt." (Tue, 08 Jan 2008 09:16:34 GMT)

Mortgage switch could shave £60k off debt
Ulster home-owners could shave up to £60,000 off their mortgage debt by remortgaging, a leading local lender claimed today. (Tue, 08 Jan 2008 09:22:47 GMT)

U.S. lenders cut 86,000 jobs
Mortgage lenders cut more than 86,000 jobs in 2007 as demand for home loans and refinancing declined, according to a survey. (Tue, 08 Jan 2008 09:48:04 GMT)

Mortgage act will provide more tax breaks on homes
The Mortgage Forgiveness Debt Relief Act of 2007 will have wide-ranging effects. (Tue, 08 Jan 2008 09:54:15 GMT)

Home crisis costs more jobs Bay Area mortgage industry work force continues to shrink in 2008
It may be a new year, but 2008 is starting out with plenty of pain for mortgage and housing-industry workers in the East Bay. (Tue, 08 Jan 2008 10:44:42 GMT)

Ahead of the Bell: Pending Home Sales
The November reading of an index that tracks pending U.S. home sales is forecast to inch downward Tuesday, another indication that the housing market's struggles aren't over yet. (Tue, 08 Jan 2008 11:09:07 GMT)

A third of home sales delayed or failed
A third of planned U.S. home sales were canceled or delayed in September, October and November as consumers had fewer borrowing options, according to a survey of 2,416 real-estate agents. (Tue, 08 Jan 2008 11:37:21 GMT)

North Texas existing-home sales fall 8% in 2007
By ANDREA JARES North Texas existing-home sales fell 8 percent in 2007, according to figures from the North Texas Real Estate Information System. The median price of a home sold in 2007 held steady, up just 1 percent for the year, according to the figures. December was a particularly brutal month for the 29-county area that stretches from the Red River to just north of Waco, with sales down 25 ... (Tue, 08 Jan 2008 11:56:45 GMT)

MFA Mortgage May Sell 12.M Shares
Real estate investment trust MFA Mortgage Investments Inc. said Tuesday it signed a sales agreement with Cantor Fitzgerald & Co. to potentially sell up to 12.5 million of its common shares from time to time. (Tue, 08 Jan 2008 12:08:01 GMT)

Find the Best Deal on Refinancing Your Home
(ARA) - Do you have a balloon mortgage that is coming due or an adjustable rate mortgage payment that has been steadily creeping up as interest rates change? (Tue, 08 Jan 2008 12:08:42 GMT)

Baltimore Accuses Mortgage Firm Of Predatory Lending
Baltimore Mayor Sheila Dixon's administration plans to file a lawsuit Tuesday in federal court alleging a mortgage lender engaged in predatory lending. (Tue, 08 Jan 2008 13:00:07 GMT)

ANZ rapped for home loan hike
WAYNE Swan yesterday condemned ANZ's home loan rate hike as excessive, as the Coalition pressed him to take a tougher line with banks. (Tue, 08 Jan 2008 14:00:00 GMT)

ANZ rapped for home loan hike
WAYNE Swan yesterday condemned ANZ's home loan rate hike as excessive, as the Coalition pressed him to take a tougher line with banks. (Tue, 08 Jan 2008 14:00:00 GMT)

Administration eyes more mortgage help
Treasury Secretary Henry Paulson said Tuesday the administration was exploring what would be a significant expansion of the program to help at-risk mortgage holders. (Tue, 08 Jan 2008 14:35:33 GMT)

Feds may expand mortgage help program
Treasury Secretary Henry Paulson said Tuesday the administration was exploring what would be a significant expansion of the program to help at-risk mortgage holders. (Tue, 08 Jan 2008 14:38:05 GMT)

Home Loan U Offers Free Refinancing Tips
(ARA) - As the drum beat of news continues about the credit crunch in the mortgage market, millions of homeowners are worried about their adjustable-rate mortgages that will adjust to higher interest rates, leaving many struggling to make their payment. (Tue, 08 Jan 2008 15:29:40 GMT)

Paulson hints at more mortgage aid
Treasury Secretary says the White House is mulling enlarging the mortgage freeze program to include prime rate borrowers. (Tue, 08 Jan 2008 15:40:44 GMT)

Tips to Secure Small Business Loans -- Working Smart With Loan Consultants
Even with good credit, owners of small and home businesses can spend a lot of time and money securing the small business financing they need to fund and grow their businesses. Loan consultants can help, but only if business owners "work smart" with them, says business credit expert Todd Kalb, president of AFSLoansOnline.com. For anyone seeking small business loans, Kalb offers five tips on how ... (Tue, 08 Jan 2008 16:00:00 GMT)

• Fort Lauderdale Home Builder Seeks $3.5 Million Loan
Home builder Levitt and Sons is seeking a bankruptcy judge's approval to borrow up to $3.5 million to finish building homes in South Carolina, Georgia and Florida. (Tue, 08 Jan 2008 16:12:06 GMT)

U.S. may expand mortgage aid, Paulson says
Treasury Secretary Henry Paulson Jr. said Tuesday that the U.S. administration was exploring what would be a significant expansion of the program to help at-risk mortgage holders. (Tue, 08 Jan 2008 16:20:35 GMT)

Federal Home Loan Bank of New York Elects New Chairman, Vice Chairman to the Board of Directors
The Federal Home Loan Bank of New York's Board of Directors has elected David W. Lindstrom to serve as Chairman for a two-year term commencing January 1, 2008 and Michael M. Horn to serve the remaining term of the current Vice Chair commencing January 1, 2008 through and until December 31, 2008. (Tue, 08 Jan 2008 17:17:00 GMT)

Co-defendant pleads guilty in mortgage fraud scheme
A co-defendant in the $25 million mortgage and loan fraud scheme involving F. Jeffrey Miller pleaded guilty to conspiracy and money-laundering charges Tuesday in federal court in Kansas. (Tue, 08 Jan 2008 17:32:27 GMT)

Sector Wrap: Mortgage Insurers
Fears of accelerating deterioration in the mortgage market sent shares of mortgage insurers lower Tuesday. Lehman Brothers analyst Bruce Harting wrote in research notes MGIC Investment Corp., PMI Group Inc. and Radian Group Inc. will all need to significantly boost reserves for the fourth quarter and beyond to cover expected jumps in insurance claims. (Tue, 08 Jan 2008 19:30:00 GMT)

Administration considering expansion of mortgage freeze program
Bush administration is considering expanding a program to help at-risk mortgage holders. (Tue, 08 Jan 2008 19:50:28 GMT)

Citi Integrating Mortgage Operations
Citigroup Inc. is planning to integrate its various mortgage businesses -- from originations to securitizations -- according to a Tuesday memo to Citi employees. (Tue, 08 Jan 2008 20:09:22 GMT)

Citigroup restructures, integrates mortgage businesses
Citigroup (C) is planning to integrate its various mortgage businesses from originations to securitizations according to a Tuesday memo to Citi employees. (Tue, 08 Jan 2008 20:18:18 GMT)

Mortgage Freeze Program May Be Expanded
Treasury Secretary Henry Paulson says the Bush administration is considering expanding a program to help at-risk mortgage holders. (Tue, 08 Jan 2008 20:20:49 GMT)

Mortgage Freeze Program May Be Expanded
Treasury Secretary Henry Paulson says the Bush administration is considering expanding a program to help at-risk mortgage holders. (Tue, 08 Jan 2008 20:27:04 GMT)

Paulson Says U.S. May Expand Mortgage Aid
The Treasury secretary said the administration was in talks with the mortgage industry to expand a program that freezes adjustable rate mortgages for 5 years to include borrowers of loans at prime rates. (Tue, 08 Jan 2008 20:40:28 GMT)

Links We Like
Winter doesn’t mean you have to gain weight. Learn how to stay slim all year. More Thinking of buying a home or refinancing? Find out which mortgage deals could end up costing you extra. (Tue, 08 Jan 2008 21:05:24 GMT)

Links We Like
Winter doesn’t mean you have to gain weight. Learn how to stay slim all year. More Thinking of buying a home or refinancing? Find out which mortgage deals could end up costing you extra. (Tue, 08 Jan 2008 21:05:45 GMT)

Mortgage giant denies bankruptcy
US mortgage giant Countrywide Financial denies speculation it is about to file for bankruptcy protection. (Tue, 08 Jan 2008 21:36:35 GMT)

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